While Apple’s exact implementation is still unclear at this point, we can still make some general idea of what it will look like. The company has made a huge push to get its Bluetooth LE-transmitting iBeacons into retailers across the country. And because Apple did not spend a great deal of time expounding on iBeacons at WWDC this year, it’s possible they could be a greater focus at Apple’s September media event—as a part of its mobile payment solution. Touch ID will also likely play a role in securing the platform, and it could make sense for Passbook, Apple’s hub for tickets and coupons, to get some level of integration with the service too.
Apple has over 800 million credit cards on file already putting it in a perfect position to launch a payments platform. The Information says that conversations between Apple and payment companies have heated up recently and that Apple's solution will have a "so-called secure element" to store user's confidential financial information.
There have also been reports that Apple has been discussing a mobile payment service with high-profile retail brands that sell luxury clothing and premium goods.
The company is expected to unveil the iPhone 6 on September 9th. Please follow iClarified on Twitter, Facebook, Google+, or RSS for more updates.